Air fares up 32% since pandemic

Air fares are up one-third on pre-pandemic charges as demand for travel continues to outstrip supply, one European industry group calculates. A continued resurgence in travel combined with a squeeze on aircraft numbers has pushed up the cost of flying this year. Airports Council International (ACI) Europe said on Tuesday that the cost of air travel had ballooned. The industry organisation calculated that “the air fares charged by airlines have increased by 32% compared to pre-pandemic prices”. ACI complained that airlines’ ticket prices have risen much faster than European airport charges, which increased just 7% over the same period, according to its estimates. Air fares were widely expected to rise this summer as many airlines are flying fewer aircraft than before the pandemic, while manufacturers are not meeting orders for new planes fast enough. At the same time, demand for travel is growing across Europe, with increased numbers of US tourists (lured by the weaker euro) and Chinese travellers (recently released from lockdowns) adding to the pressure. Late last year, Michael O’Leary, CE of Ryanair Holdings, predicted that air fares would increase across Europe this summer as airlines responded to these factors and to volatile fuel prices. Many European airlines continue to operate with less capacity than in 2019, the year before Covid hit travel.<br/>